...Internet roasts Rick Perry's latest economically illiterate statement

[DonViejo]

‘Must have taken econ at Trump U’: Internet roasts Rick Perry’s latest economically illiterate statement

BRAD REED
06 JUL 2017 AT 13:45 ET

Department of Energy Secretary Rick Perry on Thursday visited a coal plant near Morgantown, West Virginia, where he made an incorrect assertion about economic laws of supply and demand.

“Here’s a little economics lesson: supply and demand,” Perry said, Link to tweet
" target="_blank">according to S&P Global Market Intelligence reporter Taylor Kuykendall?. “You put the supply out there and the demand will follow.”

In fact, simply creating supply is not enough to generate demand on its own, especially if rival industries are supplying substitute goods at lower prices, which is what has happened as cheap natural gas has put downward pressure on the coal industry for the past several years.

The internet predictably reacted with derision to Perry’s statement, as anyone who has taken Economics 101 immediately knew that his description of how supply and demand works was completely false.

Check out some of the top reactions below.

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http://www.rawstory.com/2017/07/must-have-taken-econ-at-trump-u-internet-roasts-rick-perrys-latest-economically-illiterate-statement/

[underpants]

1. Oops

[oasis]

2. "Oops"

again

[gademocrat7]

3. Perry is a buffoon.

[C_U_L8R]

4. That theory is only correct if...

if you're shoveling bullshit to Trump voters

[11 Bravo]

5. Dumber than a bag of hair.

[murielm99]

6. I have a little black bag labeled, "coal."

Every year I fill it with inexpensive joke presents for my family to open for Christmas. I ought to send it to Perry. He can put real coal in it, because he will have to give coal away to get anyone to use it.

[DesertRat]

7. Rep. Ted Lieu

Dear Rick Perry: If you put lots of 35mm film out there, will demand follow? NO. That's not how capitalism works. Stop lying to coal workers

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[hibbing]

8. Oh lord that gif

Poor Texas go from Ann Richards, to the idiot son, to this dorkwad, and then to Abbott, who I don't know much about.


Peace

[Dave Starsky]

14. Abbott's continuing the new tradition, I assure you. N/t

[DesertRat]

15. No kidding!

At least his stint appearance on Dancing with the Stars has produced a treasure trove of gifs.

[Honeycombe8]

9. That's why Trump put him in charge of energy. He's dumb as a stump like Trump.

Hey...I'm a poet & didn't know it.

[Motley13]

10. Ricky sure missed out on that supply of brains

[Hortensis]

11. Does that mean I can sell rare violets in rural Georgia?

Most people around here, where "garden" means veggies, rip out our native wild violets as weeds (they are very determined colonizers) and stare at the very idea that anyone would pay to buy any variety, no matter how "rare." Hey, Gov. Perry, if I offer these people supply at cost + 20%, will demand just spring up like...violets?

[Major Nikon]

12. Rick Perry almost flunked out of Animal Husbandry from an ag university

He's always been dummer than a sack of hammers

[Blue_Tires]

13. Holy damn...

What the fuckin' hell, Tejas? You let this illiterate cretin run your state for 15 years?

[Adrahil]

16. That's the whole basis of Supply-side economics...

... and explains why the GrOPers are complete and utter failures at economic policy.

[whistler162]

17. Good to know all those buggy whips I made

will create a demand!